VA Loan Secrets: How to Use Multiple VA Loans (at the same time)

What's up, guys? Jimmy V here, mortgage originator specializing in VA loans, and today I'm going to tell you the secrets on how to have more than one or even multiple VA loans at a time. Why do I share this information with you? Well, it's simple, because I want you, I always feel like Uncle Sam when I say that, I want you to build and create wealth through the acquisition of real estate, utilizing your VA home loan benefits. So I'm a Marine Corps veteran, I'm a mortgage originator, I specialize in VA loans, and I with all of their VA home loan financing needs. If you found that this information was of value, would you consider showing your love by clicking like on this video if you feel that I've earned it? Also, consider subscribing to the channel. It helps to grow and educate more veterans and active duty military. And lastly, I don't want you to leave here today without your questions being answered. So why do I share that? Drop a comment down below with your questions, and I personally will make sure that you, as the veteran or active duty service member, have your question answered. So that way you can utilize your VA home loan benefit, and again, build and create wealth utilizing the acquisition of real estate with this benefit that you've earned. Doggone it. All right, so let's get this party started. A lot of veterans don't know or understand that we can have multiple VA loans at the same time. Well, Jim, wait a second. I thought that it had to be my primary residence. Well, it does. Number one, and number two, you as the Let me make that very clear. We want to set you up for success. We want to make sure that you're living in the property for one year before you purchase this home. This scenario is not a one size fits all. It can vary from veteran to veteran. So important for you to understand that if you have a personal scenario that you want me to review with you, it's like drop your comment down below or email me at jimmy at valoans4vets.com, and we'll make sure that you've got the intel or information that you need to go out there and effectively put rounds down range with your VA home loan benefits. Let's just say that you as the veteran want to buy a home for $200,000. We'll call this home A. Okay? Now, again, I'm showing you as the veteran how to have multiple VA loans at the same time. You bought home A for $200,000 with no money down. It's like you've lived in it for a year. You've gotten settled in, and you're like, you know what? I'm ready to go out there, and I'm ready to buy another home utilizing my VA home loan in a more desirable location, bigger square footage, house with the pool, whatever the case may be, or a different area. Maybe you're moving for work. It doesn't matter as long as you're going to live in the property and you have lived in this home for one year. Home A, we've lived in it for a year. Now, you want to go out. You want to purchase a new home, more desirable location, and let's just say that that next home is $250,000. You're going to use your VA home loan again, and now we're going to call this home B. Now, essentially, you've got $450,000 of your VA loan tied up between these two houses. Now, I want to make something very clear. This home that you're departing, you can use 75% of the rental income to offset this mortgage payment. That way, you don't have to qualify with two mortgages. Isn't that cool? VA allows us to do that. We as the mortgage originator or lender will show a lease in place before you close on the home, and we'll be able to offset this mortgage payment by 75% of the rent or income that you receive from the property, allowing you to purchase this new home, more desirable location, bigger square footage, house with the pool, whatever the case may be, for $250,000 with no money down. Now, you own two homes. You've lived in this home for one year. Another year goes by. You've lived in that home for one year. It's like, Jimmy, I'm ready to go again. Can you help me out with my VA home loan benefit? It's like, yes, I can, and here's how. What would happen on the next home is we would take essentially a new purchase price of $276,200, and now you have acquired home C, and you've utilized 75% of the rental income from home B by putting a renter in that home. Now, veterans, you have three homes all with your VA home loan, and if you're wondering how I chose each specific loan amount, it's pretty simple. Every veteran has $726,200 worth of entitlement or VA loan across the country. Now, in some locations across the country, it's considered a high-cost county. For all of my veterans that reach out to me from LA, San Diego, and other places like that, you could actually go even higher because the loan limits are greater there, but by and large, most counties across the nation, you've got approximately $726,200 worth of a VA home loan to use. Throw a little wrinkle in this. You guys with me? Let's just say, well, Jimmy, what happens if this home C I really wanted to buy for $376,200? Could I do it using my VA home loan? And if you remember, I asked Taylor. He says, no. I say, yes, you can, and here's how. $376,200, I take the delta of $100,000, and I multiply that by 25%. 25%, that equates to $25,000. I was able to go even higher than my maximum amount by putting down 25% of the difference between the purchase price and the maximum amount that I can obtain on a VA home loan, and now, there's a lot of math and writing going on here, but now, veterans, you have three VA loans at the same time, and if you want to free up your entitlement, assuming you have enough equity to do so, you can move this loan into a conventional, and you can move this loan into a conventional, and you can free up conventional investment property, I would say, and just remember that LTVs, loan-to-value ratios on conventional are much more stringent. You have to have 25% equity in the home in order to be able to refinance it, but you can kind of free up your VA line of credit to use this same exact strategy on future homes moving forward in the future, so if you guys are following me along, now, you've freed up $450,000 for the next home. This is what's referred to as VA mortgage planning, and I hope that you guys found that this information is of value, and I also hope that you learned something from it that's going to help you as a veteran or active duty service member once again build wealth through the acquisition of real estate. My name is Jimmy Versolino. I'm a mortgage originator. I specialize in VA loans, and if I can personally help out you and your family with the VA home loan benefit, I would be honored to do so. Jimmy at valoans4vets.com. We'll talk to you soon.